Source Twitter
Time to add JCPenney to the list of retailers that will be shutting down some of their stores.
The company announced that they would be shutting down around 140 stores in the coming months, most expected to take place by the end of June. The number of jobs that will be cut was not said, but they did say they will be offering early retirement to around 6,000 full-time employees.
JCPenney said they still expect an increase in new hires, even though they are having job cuts from some stores.
The company said they feel they will be saving around $200 million a year in payroll and miscellaneous costs. According to the retailer, the stores that will close had weaker sales.
All of the locations that will be closing will be announced in March.
Source Twitter